Buenos Aires province governor Daniel Scioli signed an agreement for the construction of a new container terminal at La Plata port, the provincial website reported.
The project will be carried out by the Tecplata consortium, formed by Argentine businessman Ricardo Román and the Philippine group International Container Terminal Services.
"This will be a 100% private risk investment," Román was quoted as saying by paper El Cronista.
The consortium will invest US$250mn, of which US$180mn is for construction and dredging works to be carried out in the first 18 months of the concession. During the 30-year concession, investments will reach US$350mn, the paper reported.
"This investment will start the development of the La Plata port, allowing it to take advantage of the natural conditions it offers," Scioli said.
The La Plata port is strategically located, connecting fluvial and sea navigation, as well as having good highway access.
The new terminal will start operations in 2009 and is expected to handle an initial 400,000 TEUs/y, equivalent to 25% of container traffic currently handled in the country.
The development of La Plata port is an effort to create a competitive alternative to Uruguay's Montevideo port in order to take advantage of the global growth in container trade.
On August 27, President Cristina Fernández signed an agreement with the River Plate basin development fund Fonplata to improve the fluvial ports of San Nicolás, San Pedro, Dock Sud and La Plata in Buenos Aires province, the local government reported on its website.
A total US$59mn will be invested in the project, of which US$47mn will be financed by Fonplata - an intergovernmental consortium including Argentina, Brazil, Uruguay, Bolivia and Paraguay - and the remaining US$12mn by the Buenos Aires province government.
The loan will be disbursed in 58 months and has a term of 20 years. As part of the agreement, US$379,000 will go to inspecting and supervising the works.
The objective is to rehabilitate the province's fluvial ports so they can offer a competitive, reliable and economically convenient service.
The project will be carried out by the Tecplata consortium, formed by Argentine businessman Ricardo Román and the Philippine group International Container Terminal Services.
"This will be a 100% private risk investment," Román was quoted as saying by paper El Cronista.
The consortium will invest US$250mn, of which US$180mn is for construction and dredging works to be carried out in the first 18 months of the concession. During the 30-year concession, investments will reach US$350mn, the paper reported.
"This investment will start the development of the La Plata port, allowing it to take advantage of the natural conditions it offers," Scioli said.
The La Plata port is strategically located, connecting fluvial and sea navigation, as well as having good highway access.
The new terminal will start operations in 2009 and is expected to handle an initial 400,000 TEUs/y, equivalent to 25% of container traffic currently handled in the country.
The development of La Plata port is an effort to create a competitive alternative to Uruguay's Montevideo port in order to take advantage of the global growth in container trade.
On August 27, President Cristina Fernández signed an agreement with the River Plate basin development fund Fonplata to improve the fluvial ports of San Nicolás, San Pedro, Dock Sud and La Plata in Buenos Aires province, the local government reported on its website.
A total US$59mn will be invested in the project, of which US$47mn will be financed by Fonplata - an intergovernmental consortium including Argentina, Brazil, Uruguay, Bolivia and Paraguay - and the remaining US$12mn by the Buenos Aires province government.
The loan will be disbursed in 58 months and has a term of 20 years. As part of the agreement, US$379,000 will go to inspecting and supervising the works.
The objective is to rehabilitate the province's fluvial ports so they can offer a competitive, reliable and economically convenient service.